Our Product

different forms of tax in mineral sector in nigeria

(PDF) Taxation of Solid Mineral Mining in Nigeria

The non tax revenue from the various departments and agencies of the Federal Government involved in the solid minerals sector for 2010 was N1, 282, 103, 967.00 according to the NEITI report. The Federal Government collected a further sum of N 26,120,477,004.00 as tax revenue from the solid minerals sector in same 2010.

More

OIL, GAS AND OTHER MINERALS TAXATION

principles and practice of taxation taxation in the solid minerals industry in nigeria taxation in the oil and gas industry in nigeria petroleum industry bill mrs. j. o. david-west 2 22nd may, 2013 content

More

Types Of Taxes In Nigeria And What You Need To Know

Sep 07, 2018· A tax is a compulsory financial contribution made by private individuals, groups, and institutions towards the expenditure of the government. Before going into the types of taxes in Nigeria, its good to know that taxation is affected by the individuals and institutions of a

More

TYPES OF TAXES IN NIGERIA. shopinverse

Sep 10, 2018· In Nigeria, poll tax is imposed on peasants where the tax base cannot be accurately determined due to the fact that they are neither employed in the public sector nor in an organized private sector. #4 Capital Transfer tax: This is a tax paid on the value of all properties or wealth received by an individual from another person, regardless of

More

Tax rates in Nigeria Business Environment Nordea Trade

capital gains tax (10%, does not apply to the disposal of shares) information technology tax (1% of its profit before CIT; for companies with an annual turnover of NGN 100 million or more) levy on contracts awarded in the upstream oil and gas sector (1%, with a fine of

More

Laws & Guidelines Regulating Solid Mineral Industry in Nigeria

Feb 12, 2017· Laws & Guidelines Regulating Solid Mineral Industry in Nigeria You need to know about Nigerian minerals and mining regulations 2011, mining regulations in Nigeria, Nigerian minerals and mining act 2007, national minerals and metals policy 2008 Nigeria, mines and minerals act 2014, history of mining in Nigeria, problems of mining in Nigeria.

More

Taxation in Nigeria: A Beginner's Guide To Nigeria's Tax

Also Read: Best Accounting Software For Small Business Owners In Nigeria. Tax Identification Number (TIN) In Nigeria, every citizen of Nigeria working with the Government, the private sector or owns a business in operation or with an intent to start up one is expected to obtain a Tax

More

Mineral royalties and other mining- specific taxes

in Australia. Mineral royalties have traditionally been considered a form of compensation to the community for the depletion of non-renewable resources. Special mining taxes including royalties are additional to the general income taxes and other forms of taxation levied on all sectors of an economy. They represent, therefore, different ways

More

Types of Mineral Resources in Nigeria & List » PeakNG

Nigeria is one of those nations in the world that is blessed with a wide range of mineral resources. We listed the types of mineral resources in Nigeria. Nigeria is rich with Natural Resources ranging from valuable metals different stones to modern, for example, Barites, Gypsum, Kaolin, and Marble. It is believed there mineral resources []

More

Fiscal Regimes for Extractive Industries: Design and

6 EXECUTIVE SUMMARY This paper suggests ways better to realize the revenue potential of extractive industries (EI—oil, gas, and mining), particularly in developing countries.

More

Home FIRS

PAY TAX ONLINE DUE DATES E-SERVICES TAX FORMS TAX OFFICE LOCATOR 0 190 NationwideOffices 0 15 StateCoordination Offices 0 10 Vat Coordination offices 0 36 Government Business Tax Offices Tax Calculator The Tax Calculator is a stress-free application that assists tax payers to calculate tax due in line with the Nigerian Income Tax laws. Access []

More

ECONOMIC DEVELOPMENT IN NIGERIA THROUGH THE

affecting Nigeria’s bid to achieve sustainable economic growth and development with particular reference to such sectors as agriculture, manufacturing and mining and quarrying (solid minerals) over the period of 1970-2005. This involves the analysis of the relevance of

More

TAXATION UNDERGRADUATE PROJECT TOPICS, RESEARCH

comparative analysis of value added tax revenue among diferent sector in nigeria (case study of federal inland revenue lagos state) tax40130: an approval of pay-asyou earn sytem of taxation in nigeria (a case study of sukka local government area) tax20833: rent tax compliance in ghana (a case study of bolgatanga municipality)

More

Extractive Industries Overview World Bank

Apr 16, 2020· Natural resources have the potential to drive growth, development and poverty reduction in developing countries. The extractive industries sector plays a dominant economic, social and political role in the lives of 3.5 billion people living in 81 countries, 51 of which are now compliant with the Extractive Industries Transparency Initiative, a global standard for transparency and accountability.

More

Topic 4: TYPES OF PETROLEUM CONTRACTS AGREEMENT

Mar 27, 2015· 1.2.4) Summary: The Production-Sharing Contracts (PSCs) Terms of PSAs can be replicated in tax and royalty regimes, but PSAs allow variation of economic terms for an area without amendment of fiscal legislation State can retain and dispose of its share of petroleum or make marketing arrangements with Contractor State not obliged to find budget

More

Types of Taxes SmartAsset

Dec 09, 2019· Consumption Tax. A consumption tax is a tax on the money people spend, not the money people earn. Sales taxes, which state and local governments use to raise revenue, are a type of consumption tax.An excise tax on a specific good, such as alcohol or gasoline, is another example of a consumption tax.

More

Major Mineral Resources in Nigeria: Full List & Locations

Sep 22, 2019· Mineral resources are materials of economic interest found in or on the earth’s crust in such quality, quantity and form that can be considered for economic extraction. In Nigeria, mineral resources play a great role in the economic sector. In fact, the Nigerian economic is skewed toward the exploration of minerals specifically petroleum. This makes []

More

MINERAL EXPLORATION AND MINE DEVELOPMENT

resources, and (b) within the mineral sector, countries compete with one another for investment. Mineral exploration and development are the first stage in the process of mineral supply. The stages of mineral supply are: Mineral exploration and development, in which mineral deposits are identified, evaluated, and prepared for mining.

More

Types of Taxes Income, Property, Goods, Services

Taxes on Income. The federal government, 43 states and many local municipalities levy income taxes on personal and business revenue and interest income. In most cases, income tax brackets are progressive, meaning that the greater the income, the higher the rate of taxation. Federal rates for the 2013 tax year range from 10 to 39.6 percent.

More

Indirect tax Wikipedia

An indirect tax (such as sales tax, per unit tax, value added tax (VAT), or goods and services tax (GST ), excise, consumption tax, tariff) is a tax collected by an intermediary (such as a retail store) from the person who bears the ultimate economic burden of the tax (such as the consumer). The intermediary later files a tax return and forwards the tax proceeds to government with the return.

More

Mining industry of Nigeria Wikipedia

The mining of minerals in Nigeria accounts for only 0.3% of its GDP, due to the influence of its vast oil resources. The domestic mining industry is underdeveloped, leading to Nigeria having to import minerals that it could produce domestically, such as salt or iron ore.Rights to ownership of mineral resources is held by the Federal government of Nigeria, which grants titles to organizations

More

Nigeria Resources and power Britannica

Nigeria Nigeria Resources and power: Nigeria has a variety of both renewable and nonrenewable resources, some of which have not yet been effectively tapped. Solar energy, probably the most extensive of the underutilized renewable resources, is likely to remain untapped for some time. Resource extraction is the most important sector of the economy. The most economically valuable minerals

More

Production-Sharing Agreements: An Economic Analysis

2.1 MINERAL DEVELOPMENT IN GENERAL One highly specific feature of the mineral sector is that exploration and development of mineral resources must take place where the resources are located. Ventures in this sector are of a high risk nature in the physical, commercial, and

More